Binance’s Zhao Expects US Affiliate to Net Hundreds Million Dollars in Funding Round

Binance US

Binance Chief Executive Officer Changpeng Zhao says that its US affiliate could raise a couple hundred million dollars in a funding round that closes in not more than two months. 

The exchange says that Binance US has the option of an Initial Public Offer and that the parent exchange could be listed in the future. Zhao maintains that the exchange must do a few funding rounds before the IPO. 

Binance CEO says that the exchange was profitable and that there was a possibility to charge lower fees in the near term. He adds that Binance had decided on a new headquarters and would announce soon with communications with the regulators remaining open. 

Binance has had surging trading volumes this year amid a jump in the price of digital assets and growing public adoption. The exchange’s spot trading volumes were $789 billion in September and $454 billion in July. 

Source: Reuters

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